Amazon posts smaller loss than forecast

Article Abstract:

Amazon.com reported a net loss of $9.26 million, or 40 cents a share, for the 1st qtr 1998. By comparison, the on-line bookseller's 1st qtr 1997 losses totaled $3.04 million, or 16 cents a diluted share. A First Call analyst survey had projected a 47-cent loss. Revenue surged from $16 million to $87.4 million, easily exceeding an analyst consensus of around $73 million. Amazon also introduced plans to increase its European presence through the acquisition of Internet Movie Database, large UK bookseller Bookpages, and major German on-line book store Telebook. Internet Movie Database, a UK-based information source on movie and TV information, will help Amazon sell videos on-line. Amazon also announced that its customer accounts now number 2.26 million, which represents a 50% increase from the 4th qtr ended Dec 31, 1997.

Electronic publishing, Electronic commerce, E-commerce, Company sales/revenue, Company sales and earnings, Amazon.com Inc., Company losses

Profit delivery stalled, Webvan hits new roads

Article Abstract:

In the wake of Webvan Group's second quarter loss of $74.4 million, the online grocery company will open for business in Chicago and 13 other markets this year. Orders have jumped to 2,000 a day in Atlanta already, a hub run by Chris Ohlund, who wooed employees with higher salaries, bonuses, stock options and the proverbial free lunch. The operation is based on the original Oakland paradigm of a "hub and spoke" delivery foundation from a 330,000-square-foot warehouse. Each city warehouse supplies the equivalent of 18 supermarkets and are automated by a database in San Jose.

California, Services development, Georgia, Groceries and related products, not elsewhere classified, Grocery Products NEC Whsle, Other Grocery and Related Products Wholesalers, Production management, Management, Services, Grocery industry, Grocery stores, Online services, Online shopping, Company services, Food distributors, Atlanta, Georgia, San Francisco Bay Area, Ohlund, Chris, Webvan Group Inc.

Micron Electronics reports tenfold rise in profit despite 28% decline in sales

Article Abstract:

Idaho-based Micron Electronics, maker of custom-ordered computers like Compaq and Dell, raised profits due to reducing costs and increasing efficiency in the way it does business, but sales were still down for the fiscal first quarter. The company has new leadership, namely, Joel Kocher, chairman and CEO, from Dell Computers, who is working on the firm's brand awareness problem. A new Internet presence and advertising is expected to help.

Comment:

Sales were down but profits up for Idaho firm

Electronic computers, Electronic Computer Manufacturing, Sales, profits & dividends, Computers & Auxiliary Equip, Computer industry, Computers, Digital computers, Abstract, Interland Inc.